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Aditya Birla Sun Life Insurance Company Limited

ABSLI Vision Endowment Plus Plan

Secure Your Savings and Protect your Loved Ones

Accrued regular bonuses to augment your savings

Comprehensive ﬁnancial protection of your family

Give Rs.31,502 for 7 years /- and get Rs.3.07 lakhs¹.

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Why buy ABSLI Vision Endowment Plus Plan?

Aditya Birla Sun Life Insurance Vision Endowment Plus Plan can go a long way in building a safe and financially sound future for your family, today as well as in the years to come. With the return of premium along with accrued bonuses on maturity and protecting your family’s financial security, this plan offers you the best of both worlds.

Growth in your savings – Augment your savings by accrued regular bonuses starting from the first policy year.
Safety of your loved ones – Comprehensive financial protection of your family which can be enhanced by choosing death benefit Option A or B
Flexible premium payment option - You may choose to pay your premium annually, semi-annually, or monthly as per your convenience.
Rider Option - For added protection, you can enhance your insurance coverage during the policy term by adding riders

Benefits of ABSLI Vision Endowment Plus Plan

Death Benefit

In the unfortunate event of the death of the life insured during the policy term, the death benefit payable to the nominee shall be

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you

Reduced Paid-Up Benefits

If you discontinue paying premiums after having paid for at least two full policy years, your policy will not lapse but will continue on a Reduced Paid-Up basis. Under Reduced Paid-Up, your sum assured and sum assured on maturity shall be reduced in proportion to

Riders

Accidental Death and Disability Rider

UIN: 109B018V03

Get additional protection for accident leading to death or disability at a nominal cost

ABSLI Accidental Death Benefit Rider Plus

UIN: 109B023V02

Provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured.

ABSLI Critical Illness Rider

UIN: 109B019V03

Provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses.

ABSLI Surgical Care Rider

UIN: 109B015V03

Provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India.

ABSLI Hospital Care Rider

UIN: 109B016V03

Provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization.

ABSLI Waiver of Premium Rider

UIN:109B017V03

Waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).

Check Your Eligibility

Entry Age (age last birthday)	30 days* – 60 years (subject to maximum maturity age of 70 years)
Policy Term	10 – 40 years
Premium Paying Term	7 \| 10 \| 15\| 20 years \| Regular Pay
Minimum Sum Assured	Rs. 100,000
Minimum Premium	Rs. 2,495 p.a.
Premium Frequency	Annual, Semi-annual, Quarterly & Monthly

*risk commences from the first policy anniversary

Your premium will depend on the amount of the Sum Assured you select. For easy reference, your Sum Assured is banded as follows:

Sum Assured Band*	Band 1	Band 2	Band 3	Band 4
Sum Assured (Rs.)	100,000 to 199,999	200,000 to 399,999	400,000 to 799,999	800,000 +

How does ABSLI Vision Endowment Plus Plan Work?

Some benefits are guaranteed^#, and some benefits are variable with returns based on the future performance of ABSLI. If your policy offers guaranteed# benefits, then these will be clearly marked “guaranteed” in the table on this page. If your policy offers variable benefits, then the illustrations on this page will show two different rates of assumed future investment returns of 8% p.a. and 4% p.a. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back. as the value of your policy is dependent on a number of factors including future investment performance.

Age	35 years	Annualized Premium	Rs. 18,430
Gender	Male	Premium Paying Term	10 years
Policy Term	20 years	Payment Frequency	Yearly
Sum Assured	Rs. 250,000	Death Benefit	Option A

Policy	Annualized Premiums	Guaranteed	Guaranteed	Total Death Benefit		Maturity Benefit
Year End	Paid to Date	Death Benefit	Maturity Benefit	at 4% p.a.	at 8% p.a.	at 4% p.a.	at 8% p.a.
1	18,430	250,000		2,52,375	2,61,500
2	36,860	250,000		2,54,750	2,73,000
3	55,290	250,000		2,57,125	2,84,500
4	73,720	250,000		2,59,500	2,96,000
5	92,150	250,000		2,61,875	3,07,500
6	110,580	250,000		2,64,250	3,19,000
7	129,010	250,000		2,66,625	3,30,500
8	147,440	250,000		2,69,000	3,42,000
9	165,870	250,000		2,71,375	3,53,500
10	184,300	250,000		2,73,750	3,65,000
11	184,300	250,000		2,76,125	3,76,500
12	184,300	250,000		2,78,500	3,88,000
13	184,300	250,000		2,80,875	3,99,500
14	184,300	250,000		2,83,250	4,11,000
15	184,300	250,000		2,85,625	4,22,500
16	184,300	250,000		2,88,000	4,34,000
17	184,300	250,000		2,90,375	4,45,500
18	184,300	250,000		2,92,750	4,57,000
19	184,300	250,000		2,95,125	4,68,500
20	184,300	250,000	1,75,085	2,97,500	4,80,000	2,22,585	4,05,085

Premiums exclude underwriting extra premium, frequency loadings on premiums, the premiums paid towards the riders, if any, and Goods and Service tax.

Suicide Exclusion: We will pay the total premiums paid till date or surrender value available on the date of death, if higher in the event the life insured dies due to suicide, within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as may be applicable provided the policy is inforce.

How to initiate Claim?

3 quick steps, everything online.

Fill basic details
Claim intimation
Document submission

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Vision Endowment Plus Plan FAQs

What is ABSLI Vision Endowment Plus Plan?

ABSLI Vision Endowment Plus Plan is a traditional participating endowment plan knitting together savings and protection for you and your family and helps you ensure a secure future for them. The plan benefits can be further customized by adding riders thus enhancing the protection against uncertainties.

Do I have any rebates/discount on the premiums?

You shall be eligible for premium rebate based on your choice of ‘Sum Assured’ and ‘premium payment mode’.
Sum Assured Rebate
For higher sum assured, you will get a premium rebate as explained below.

Sum Assured Band	Band 1	Band 2	Band 3	Band 4
Premium Rebate per 1000 SA	nil	1.00	5.00	7.00

Modal Rebate

You will get a modal rebate of 5% and 2% if your mode of premium payment is annual or semi-annual respectively.
The premium is calculated based on tabular rate; which is then reduced by Sum Assured rebate, as applicable and modal rebate, as applicable.

When shall ABSLI declare the bonus under the plan?

ABSLI shall declare a bonus on 1st of July every year and this bonus rate shall be applicable to all the policies having policy anniversary between 1st July to 30th June of the following year. Bonus is either represented as a percentage or can also be expressed as per 1000 of sum assured. For e.g. a bonus rate of 4% can also be defined as 40 per 1000 sum assured.

The bonus rate declared by ABSLI will depend on the actual experience regarding various factors and the prevailing economic conditions hence it may vary from year to year.

What are the bonuses available under ABSLI Vision Endowment Plus Plan?

Your policy shall participate in the profits arising out of the ABSLI’s participating business in the form of bonus. The regular bonus rate declared by ABSLI may vary from year to year and will depend on the actual experience regarding various factors and the prevailing economic conditions. Future bonuses are however not guaranteed and will depend upon the future profits of the participating business. The plan offers following bonuses.

Simple Reversionary Bonus:

ABSLI may declare a rate of reversionary bonus at the end of every financial year during the policy term. Provided the policy is in effect for the full sum assured, the declared reversionary bonus shall be added to the policy on its policy anniversary date immediately following the date of bonus declaration. Bonuses once attached to the policy are payable along with the interim bonuses, as applicable on maturity or surrender or death, if earlier.

In case of surrender the surrender value of the attached bonuses will be payable.

Example: Assuming policy is bought on 1^st October 2015 and ABSLI declares the annual reversionary bonus of 42 per 1000 Sum Assured on 1^st July 2016.

The bonus vests on the policy only on policy anniversary. As the policy is brought on 1^st Oct 2015, the 1^st policy anniversary falls on 1^st Oct 2016. The revisionary bonus rate declared in the first year is 42 per 1000 Sum Assured; therefore,

Bonus attached to policy on 1^st policy anniversary is 10,00,000 x 42/1000 = Rs. 42,000.

Assuming on 1^st July 2017 i.e. the second year ABSLI declares an annual reversionary bonus of 44 per 1000 sum assured

Bonus to be attached on 2^nd policy anniversary i.e. on 1^st Oct 2017 is 10,00,000 x 44/1000 = Rs. 44,000

As this plan offers simple revisionary bonus, the accrued bonuses at the end of 2^nd policy year is Rs. 42,000 + Rs 44,000 = Rs. 86,000

Interim Bonus:

The interim bonus is declared annually along with the reversionary bonus. This is a temporary or provisional bonus which is declared and paid for policies where the declared reversionary bonus is yet to be vested but the policy is due for a death claim. In such scenarios the interim bonus will be paid so that the customer does not loose on the entitled bonus.

Continuing from the previous example: Assuming on 1^st July 2016 ABSLI declares an interim bonus of 4.0% and the simple revisionary bonus of 4.4%

The revisionary bonus will be added to the policy on the policy anniversary i.e. on 1^st Oct 2016 (policy issued on 1^st Oct 2015), however in the interim the life insured dies on 15^th Aug 2016 i.e. before the policy anniversary. In this case, the interim bonus declared by ABSLI will form a part of the death benefit. Hence the nominee will receive an interim bonus of = 10,00,000 x 40/1000 = 40,000 as a part of the death benefit.

Accrued bonus in this case shall be 42,000 (in the previous year) + 40,000(interim bonus in the year of death) = Rs. 82,000

Terminal Bonus: Participating policies usually take time to build up cash values therefore in the initial years terminal bonus may or may not be paid. ABSLI may also pay a terminal bonus on, maturity, surrender or death, if earlier, based on the actual experience and the prevailing economic conditions.

What is the Surrender Benefit under this plan?

A policy acquires a Surrender Value once premiums for at least two full policy years have been paid.
The surrender value payable to you will be higher of

Guaranteed^# Surrender Value
Special Surrender Value

The Guaranteed Surrender Value shall be a percentage of Total premiums paid plus the surrender value of accrued regular bonuses. The Guaranteed# Surrender Value will vary depending on the premium paying term and the year the policy is surrendered.
Your policy shall also be eligible for a Special Surrender Value; this Special Surrender Value is not guaranteed and can be reviewed by ABSLI from time to time.

Do I have a loan facility under this plan?

Yes. You are allowed to take up a loan against the policy once your plan acquires a surrender value.

The minimum loan amount is Rs. 5,000 and the maximum is 85% of your surrender value.
We shall charge interest on the outstanding loan balance at a rate declared by us from time to time based on then prevailing market conditions.
The death benefit, maturity benefit, survival benefit or surrender benefit will be reduced by the outstanding loan balance (if any).
You are free to repay all or part of your outstanding policy loan balance at any time, subject to our then current administration guidelines.
If the policy is in reduced paid-up status; should the outstanding policy loan balance equal or exceed the surrender value of your policy, then all the benefits in the policy shall cease and it shall be terminated.

Will my benefits be affected if my policy becomes Paid-up?

Yes your benefits will also be reduced. You benefits under the reduced paid-up policy will be

Death Benefit

Reduced Sum Assured on death; plus

Accrued Bonuses as applicable

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to the policyholder -

Reduced Maturity Sum Assured

Accrued regular bonuses (till due date of 1^st unpaid premium)

How can I reinstate my policy?

You can reinstate your policy for its full coverage within five years from the due date of the first unpaid premium by paying all outstanding premiums together with interest as declared by us from time to time and by providing evidence of insurability satisfactory to us. Upon reinstatement, your sum assured, and accrued bonuses to date of reinstatement shall be restored to their full value

When will my policy terminate?

Your policy will get terminated on any of the following events:

the date of settlement of the Death Benefit; or
the date of payment of the surrender value, if any; or
the date of payment of the policy maturity benefit; or
the date on which the revival Period ends after your policy has lapsed as per Premium Discontinuance provision (a); or
the date when outstanding loan value exceeds the surrender benefit for the reduced paid up policy; or
the date of payment of free look cancellation amount.

Can life insured and proposer be different under this plan?

Yes, there can be a proposer and s/he can be different from the life insured under the plan. In case the proposer and the life insured are different then all the proceeds for the policy will be paid to the proposer.

What is Auto Vesting Age?

When this policy has been taken for the benefit of life insured who is a minor at the time of policy issuance, the policy shall automatically vest to the life insured on his attaining age 18.

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Disclaimer

^# Provided all due premiums are paid
¹ ABSLI Vision Endowment Plus Plan, age 21 years, sum assured Rs.200000, premium paying term 7 years- annual, policy terms 10 years, Death benefit option: Option A, annual premium Rs.31,502/- for 7 years, Total maturity benefit including terminal bonus, if any of Rs.2,39,514/- @4% and Rs. 3,07,514 @8% after 10 years for long term financial needs.
² where Sum Assured on maturity is equal to Total premiums paid.
³ Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a traditional participating endowment plan. All terms & conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date. This brochure contains only the salient features of the plan. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.
As per Section 10(10D) of the Income-Tax Act, 1961, proceeds from life insurance policy issued on or after 1 April 2023 shall be taxable as income from other sources if the cumulative annual premium payable by taxpayer for life insurance policies exceeds ₹ 5 lacs.
UIN: 109N092V05
ADV/7/23-24/1075